CGG : The Appeals Court of Paris upholds the ruling of the Commercial Court of Paris that approved CGG's safeguard plan
May 18 2018 - 01:57PM
Paris, France - May 18, 2018
CGG announces that the approval of its safeguard
plan by the Commercial Court of Paris on December 1st 2017 was
upheld by a ruling rendered today by the Appeals Court of Paris,
seized by a group of Convertible Bondholders that had launched a
recourse against the draft plan.
"Senior Notes" means, together, (i) the
high yield notes, bearing interest at a rate of 5.875% and maturing
in 2020, issued by the Company on 23 April 2014, (ii) the high
yield notes, bearing interest at a rate of 6.5% and maturing in
2021, issued by the Company on 31 May 2011, 20 January 2017 and 13
March 2017, and (iii) the high yield notes, bearing interest at a
rate of 6.875% and maturing in 2022, issued by the Company on 1 May
2014;
"Convertible Bonds" means, together, (i)
the convertible bonds (obligations à option de conversion et/ou
d'échange en actions nouvelles ou existantes), bearing interest at
a rate of 1.75% and maturing on 1 January 2020, issued by the
Company on 26 June 2015, and (ii) the convertible bonds
(obligations à option de conversion et/ou d'échange en actions
nouvelles ou existantes), bearing interest at a rate of 1.25% and
maturing on 1 January 2019, issued by the Company on 20 November
2012.
About CGG
CGG (www.cgg.com) is a fully integrated
Geoscience company providing leading geological, geophysical and
reservoir capabilities to its broad base of customers primarily
from the global oil and gas industry. Through its three
complementary businesses of Equipment, Acquisition and Geology,
Geophysics & Reservoir (GGR), CGG brings value across all
aspects of natural resource exploration and exploitation. CGG
employs more than 5,300 people around the world, all with a Passion
for Geoscience and working together to deliver the best solutions
to its customers.
CGG is listed on the Euronext Paris SA (ISIN:
0013181864) and the New York Stock Exchange (in the form of
American Depositary Shares. NYSE: CGG).
Contacts
Group
Communications Christophe BarniniTel: + 33 1 64 47 38
11E-Mail: : invrelparis@cgg.com |
Investor RelationsCatherine LeveauTel: +33 1 64 47 34
89E-mail: : invrelparis@cgg.com |
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